This is the Final Public Hearing on the adoption of proposed amendments to paragraph 69O-149.003(6)(d), Florida Administrative Code, published on September 7, 2007 in Vol. 33, No. 36, of the F.A.W., No notice of change was published. THE FULL ...

 

DEPARTMENT OF FINANCIAL SERVICES
OIR – Insurance Regulation

RULE NO: RULE TITLE
69O-149.003: Rate Filing Procedures

The Financial Services Commission announces a public hearing to which all persons are invited.

DATE AND TIME: November 14, 2007, 9:00 a.m., during a regular meeting of the Financial Services Commission

PLACE: Cabinet Meeting Room, Lower Level, The Capitol, Tallahassee, Florida

GENERAL SUBJECT MATTER TO BE CONSIDERED: This is the Final Public Hearing on the adoption of proposed amendments to paragraph 69O-149.003(6)(d), Florida Administrative Code, published on September 7, 2007 in Vol. 33, No. 36, of the F.A.W., No notice of change was published.

Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this program, please advise the contact person at least 5 calendar days before the program by contacting Tracie Lambright at e-mail [e-mail]. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).

 

THE FULL TEXT OF THE PROPOSED RULE IS:

69O-149.003 Rate Filing Procedures.

(6)(a) The following tables shall apply to filings made pursuant to subsection (5) above.

(b) A company without fully credible data may, at its option, use an annual medical trend assumption not to exceed the values in the following tables for the medical trend assumption used in a complete filing made pursuant to paragraph 69O-149.003(2)(b), F.A.C., including the actuarial memorandum required by Rule 69O-149.006, F.A.C., without providing explicit trend justification.

(c) Use of an annual medical trend assumption exceeding the maximum medical trend in the following tables shall be filed pursuant to subparagraph 69O-149.006(3)(b)18., F.A.C.

(d) The maximum medical trend for medical expense coverage described in Section 627.6561(5)(a)2., F.S., is:

Category                                          Individual                                          Individual                                          Group                                          Group

                                                        Without Rx                            With Rx                                          Without Rx                            With Rx

Major Medical                            12%11.5%                                          14%12.0%                                          13.5%13.0%                            14.5%13.5%

Health Maintenance

Organizations                            11.5%10.5%                            12.5%11.0%                            13.5%13.0%                            14.5%13.5%

(e) The maximum medical trend for Medicare supplement coverage is:

Medicare supplement              5.5%              10%              5.5%              10%

Specific Authority 624.308(1), 624.424(1)(c), 627.410(6)(b), (e) FS. Law Implemented 119.07(1)(b), 624.307(1), 626.9541(1), 627.410 FS. History–New 7-1-85, Formerly 4-58.03, 4-58.003, Amended 8-23-93, 4-18-94, 8-22-95, 4-4-02, 10-27-02, 6-19-03, Formerly 4-149.003, Amended 5-18-04, 12-22-05,_________.

 

A copy of the agenda may be obtained by contacting the Governor and Cabinet Website at http://www.myflorida. com/myflorida/cabinet/mart.html. The agenda should be available approximately one week before the cabinet meeting.